PepsiCo, Inc. (NASDAQ:PEP) Position Trimmed by Gabelli Funds LLC

Gabelli Funds LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 254,000 shares of the company’s stock after selling 9,000 shares during the quarter. Gabelli Funds LLC’s holdings in PepsiCo were worth $41,892,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PEP. Epoch Investment Partners Inc. lifted its position in PepsiCo by 7.4% in the 2nd quarter. Epoch Investment Partners Inc. now owns 344,176 shares of the company’s stock worth $56,765,000 after buying an additional 23,703 shares in the last quarter. Quest Investment Management LLC raised its holdings in shares of PepsiCo by 2.0% during the 2nd quarter. Quest Investment Management LLC now owns 8,234 shares of the company’s stock valued at $1,358,000 after purchasing an additional 164 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in PepsiCo by 15,788.2% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 12,075 shares of the company’s stock valued at $1,992,000 after buying an additional 11,999 shares during the last quarter. Kowal Investment Group LLC grew its stake in PepsiCo by 6.5% in the 2nd quarter. Kowal Investment Group LLC now owns 8,486 shares of the company’s stock valued at $1,400,000 after buying an additional 518 shares during the last quarter. Finally, Merriman Wealth Management LLC grew its position in PepsiCo by 3.5% in the 2nd quarter. Merriman Wealth Management LLC now owns 1,965 shares of the company’s stock worth $324,000 after purchasing an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price target on the stock. in a research report on Friday. Finally, Royal Bank of Canada decreased their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $185.53.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $171.18 on Friday. The company has a market capitalization of $235.13 billion, a PE ratio of 24.84, a PEG ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The stock’s fifty day simple moving average is $173.51 and its 200 day simple moving average is $171.81.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. On average, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is 78.66%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.